charge description master.docx - CHARGE DESCRIPTION MASTER INTRODUCTION The Chargemaster also known as Charge Description Master(CDM is the foundation

charge description master.docx - CHARGE DESCRIPTION MASTER...

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CHARGE DESCRIPTION MASTER INTRODUCTION The Chargemaster, also known as Charge Description Master (CDM), is the foundation of the hospital Revenue Cycle. Maintaining an accurate hospital chargemaster is key to revenue integrity. An inadequate chargemaster can result in overpayment or underpayment, as well as claim rejections, undercharging for services, and compliance violations. While, chargemasters may vary by organization, a CDM usually: Is a master file built within the hospital information system. Contains multiple data elements related to the charges that are assigned to items and services used or provided for a patient. Contains every item in the Chargemaster is assigned a set price used to generate bills. APPLICATION ASSIGNMENT Based on what you learned in the week 6 lecture, chapter readings and internet research, answer the following questions: 1. What are the key elements of the CDM? The key elements of the CDM are;
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Unformatted text preview: Charge code or item number Description GL n umber Department Price/charge HCPCS/CPT code Revenue code 2. What is meant by Chargemaster Maintenance? Chargemaster Maintenance is a process that makes sure all services are charged correctly, facilities are compliant with government regulations for pricing, and the organization gets reimbursed the correct amount. 3. What is the difference between "hard coding" vs "soft coding"? Hard-coding is when codes are assigned by the CDM without human intervention. While soft-coding is when the codes are assigned by a coding spet. 4. Identify and provide an example of a revenue code. Oncology 0280 5. What four skills should a Chargemaster coordinator possess? Considerable knowledge of the revenue cycle Good communication skills, both verbal and written Understanding of coding and reimbursement systems Management experience...
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  • Winter '16
  • Electric charge, chargemaster maintenance

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